Social Business

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Social Business Is Fast Gaining Ground Across All Industries

In the second annual survey from the MIT and Deloitte Social Business Global Executive Study and Research Project, businesspersons from 12 industries were asked if social business was “important to their organization today.” Respondents from all industries reported an increase in importance from the previous year. The energy and utilities industry had the biggest year to year increase, while the technology/media/telecommunications sector rated social business as highest in importance for both years.

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How Companies Can Move Past a Trough of Disillusionment in Social Business

Dion Hinchcliffe, Chief Strategy Officer of The Dachis Group and co-author with Peter Kim of Social Business by Design (Jossey-Bass, 2012) says some companies are facing a “trough of disillusionment” with social business, but that this is normal, and there are strategies a company can take to move forward and become a more fully enabled social business. Among these are building social media literacy, integrating existing initiatives, and connecting social tools to how work gets done.

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What Is Social Media, Anyway? (And Why Managers Should Care)

Despite the considerable amount of attention paid to social media by business, the press, and academia, managers still don’t have a clear understanding of what social media actually is. Managers need to understand the nature of social media so that they can understand its strengths and weaknesses for their own business. If they don’t — in a market environment increasingly influenced by social media — they may find themselves at a competitive disadvantage.

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Ray Wang Surveys the Evolution of Social Business

R. “Ray” Wang has been a highly respected analyst of social business in enterprises for years. Here he discusses how social business evolves in more socially developed businesses, how uses are growing in the area of service and support and hire to retire on the on-boarding side, and innovation and ideation. He also examines the critical role of leadership, gamification and how social business is changing the future of work. Wang lays out the specific signposts that a business can look for as it moves from step to step along the path of being a more fully socially enabled enterprise.

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The Emergence of Chief Digital Officers

The emergence of social media in business, along with related digital initiatives, is causing more organizations to appoint a chief digital officer, or CDO in the C-suite. While the position was initially found in media, education, and retail, an increasing number of industries of all types are considering the position to consolidate and focus its social and other digital activities. Many feel that the CDO needs to report directly to the CIO, but that reporting relationship may not fit all cases.

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What Can Managers Learn about Social Media from the Boston Marathon Bombing?

Now that the crisis and chaos of the Boston Marathon bombings and the hunt for the suspects have passed, managers can consider the critical role that social media played in identifying and apprehending the bombers. Key management lessons can be gleaned from these awful events: (1) recognize what is possible for your organization and (2) effective collaboration is a learned skill that, with time and leadership, can improve productivity for a significant number of employees.

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Can CIOs Step Up and Be Leaders in Social Media?

CIOs support social business and want to increase their knowledge about social media in the enterprise, but they face barriers to expanding their role. One of the big challenges is the increase in the IT capabilities and resources of the CMO as more digital tools are used in marketing functions. The roles of the CIO and CMO may be blurring, so the future of the CIO as a leader in social business is uncertain.

Dr Ed Tucker, VP Janssen Research & Development, a Johnson & Johnson company

How Pharmaceuticals Can Avoid the Side Effects of Social Media

In a highly regulated area like pharmaceuticals, companies need to tread carefully when it comes to dealing directly with customers via social media. In this interview, Dr. Ed Tucker of Janssen Research & Development LLC, a Johnson and Johnson company, explains how social media platforms offer benefits, but also describes the requirements and obligations firms in his industry must comply with when it comes to patient safety reporting, privacy, and other sensitive matters.

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CMOs Using Social Data to Flex Their Muscle

Recent studies show that CMOs are highly involved and supportive of the use of social media for their function, and are enthusiastic about its potential role it may play throughout the entire business as well. This strong and growing relationship between CMOs and social media data may be leading to a growing influence and strength among CMOs in the C-suite and throughout the enterprise.

Jon Bidwell
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Redesigning Innovation at Chubb

As new markets emerge, large multinationals can find it hard to respond to them quickly. In the mid-2000s, specialty insurer Chubb felt it needed to move faster, both in its product development and in the way it responded to questions and issues field representatives had. Chubb integrated multiple social media tools into a social business platform that has improved response time. It also has held more than 50 online innovation gatherings, yielding several successful new businesses.

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Get Social: A Mandate for New CEOs

New CEOs need to quickly establish themselves and communicate their vision. Traditionally, CEOs communicate through e-mail, memos and Q&As. They walk halls, attend meetings and issue press releases. In many cases, social media is a more effective and efficient way to communicate with a wide range of stakeholders. Social media has already become a state-of-the-art leadership tool that surpasses many traditional approaches to listening and communicating with stakeholders.

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CFOs’ Anti-Social Tendencies may be Changing

Research from the MIT Sloan Management Review and Deloitte showed that only 13.5% of CFOs support social business. There are logical reasons why this may be so, such as the need for this profession to scrutinize costs, look for ROI, and an uncertain benefit for the CFO function. However some in the profession are urging CFOs to be more open and see the financial payoff of a social business. Recent data shows that the reluctance among CFOs to support social business may be declining.

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What Do Senior Managers Really Want to Know About Social Media?

A study by the Conference Board and the Rock Center for Corporate Governance at Stanford University analyzed social media usage by senior executives and board members. Its findings offer insights as to why senior staff bring in a consultant or expert to educate staff. A total of 32% of those surveyed said they had done so and explained the reasons why. Many did so to learn about LinkedIn; others wanted to learn about using social media for promotion, developing rules, communication and more.

Jeanne Beliveau-Dunn

How Cisco’s Learning Network Became a Social Hub for the IT Industry

Five years ago Cisco created its digital social educational platform, Learning@Cisco, which today has over 2 million global participants. People in IT sector go to the site to get Cisco certifications, to find industry jobs, for tips on finding work and to share information. This network has helped Cisco grow its industry, create loyalty to the company, recruit and become a key source for strategic marketing information.

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B2Bs Can Be Social Too

A research report titled “The Use of Social Media in B2B Marketing and Branding: An Exploratory Study” studied tech companies in the U.S., Europe and Asia and found that several B2B companies were using social media strategically to position themselves as thought leaders, drive the market, and build key relationships with stakeholders. The researchers found that B2B firms in the U.S. were leaders in this area but found that adoption of these tools by B2B firms is “by no means universal.”

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Is Viral Marketing a Myth?

That ideas can go viral is now a given in corporate marketing. But new research suggests the term “viral” marketing does not describe well what happens in the market.

Sharad Goel, senior researcher at Microsoft Research, and fellow researchers wanted to see whether messages spread via social networks virally, “like the common cold, some sort of biological contagion. One person gets infected and their friend gets infected and a friend of their friend gets infected.”
That wasn’t what Goel found.

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Creating a Culture Where the Best Ideas Win

Vala Afshar, chief marketing officer at Enterasys Networks Inc., in Andover, Massachusetts, says that social tools created an open, flatter culture where the best ideas, not people with the highest titles, are recognized. By adding Salesforce.com’s Chatter social network, Enterasys created closer connections with customers and a more positive work environment. It uses a system that translates machine language to tweets, so that its social network is now managed both by people and machines.

Showing 41-60 of 137